Sulzberger's Address to NY Times Shareholders 4-24-07
42 Percent of NYTimes Shareholders Withhold Their Votes in Symbolic Protest
Led by Morgan Stanley, 42 percent of NY Times shareholders withheld their votes in a symbolic protest against management at today's annual meeting. A Morgan Stanley analyst has criticized the NY Times recent investment in a new central office building and it's purchase of an Internet company. The Times's stock has lagged the market in recent years. The dissidents also object to the dual shareholder voting structure which guarantees control of the newspaper to members of the founding family. The Washington Post and the Wall Street journal have a similar dual shareholder voting structure. Here's the NYT coverage of the meeting.
CEO, Arthur Sulzberger, Jr's address to the shareholders is linked below.